“Cord-cutting” has become the bane of cable providers’ existence, but the fast-changing face of consumer content is signaling dark days ahead for cable, as the option to avoid or drop cable service has grown more appealing and more popular than ever lately. The Internet, mobile devices, TiVoTIVO -0.95%, NetflixNFLX +1.69% and other streaming services, and other major disruptions to traditional TV and home entertainment mediums were already hurting the cable industry. But now, recent events have given rise to predictions that the era of cable may be coming to a close.

Netflix began producing their own original content in 2011 with House of Cards, and quickly ramped up the creation of new original shows, with dozens of programs and films in the works or already on the air. Meanwhile, HBO recently announced they will offer stand-alone service so customers need not have cable to enjoy HBO’s lineup anymore. This news was followed by announcement of a deal to carry HBO Now exclusively on Apple TV, but then came word HBO had also arranged a deal with some cable providers to offer HBO’s streaming service to customers as part of an Internet plan instead of as part of bundled cable content. Showtime is pursuing a similar path away from cable, too.

Right after the announcement of the deal to carry HBO Now on Apple TV, The Wall Street Journal revealed that Apple plans to offer a streaming TV service that will include ABC, CBS, FOX, FX, ESPN, and 20 other broadcast channels to start. The pricing will fall be $30-40 each month, and it’s expected that the plan will also include VOD streaming service alongside the broadcast channels.

And in the aftermath of the FCC’s adopting of strong Net Neutrality protections came rumblings that HBO, Showtime, and Sony might seek classification as “managed” services rather than regular broadband Internet content. This would skirt Net Neutrality and allow those content providers to get faster, better delivery to customers apart from the “public” Internet, so to speak.

In short, the times they are a changin’, and not in cable’s favor. To get a better grasp of just how dramatic all of this news is, and how much it’s changing the landscape of the future of content distribution and consumption, I spoke with Deloitte, who work on — among other things — strategic risk management and who provided data and insights regarding the emerging threats to traditional business models in entertainment, and how the landscape is going to change in the future.

First, some generalizations: What is the trend with regard to cable versus alternate viewing mediums like DVRing, Netflix, and so on? Deloitte notes that households have an average of seven connected devices, and that number will grow over time. The company’s Digital Democracy Survey revealed a great deal of relevant data. For example, 37% of U.S. consumers today own the trio of tablets, laptops, and smartphones, a percentage that represents a 270% increase since 2010. In the same time frame, women have gone from just about 11% of those trio-owners to 45% of those owning all three devices. And a major factor in trends is generational differences, which aren’t always obvious when you look at the broad data but which significantly change consumption patterns from one generation to the next.

Image courtesy of Deloitte

The Digital Democracy Survey data about Millennials shows they represent nearly one-third of the U.S. population over age 13, and more than one-third of those between the ages of 14 and 66. And it is Millennials who are driving disruptive trends the most, consuming most of their TV and film content online rather than through television or Blu-ray/DVDs. 56% of the TV and film viewing by Millennials aged 14-24 is on computer, smartphone, tablet, or a gaming device — only 44% is via TV. Older Millennials (in the 24-30 age range) consume 47% of their film and TV content on those alternative devices. So on average, the 30-and-under crowd’s primary means of consuming content is through mobile devices, streaming, and online. That’s in sharp contrast to the over-30 crowd who still rely on television for an average of more than 80% of their film and TV show viewing.

Tellingly, the desire for à la carte purchasing of channels is equal to that for bundled cable packaging, but the real difference is the means of consumption and what activities a given demographic engages in while watching TV. A majority of Millennials browse online, between 41% and 51% text (the younger Millennials coming in at the higher percentage), and 48% use social media, during television viewing. Overall, however, a whopping 86% of all U.S. consumers are doing something else while watching TV, most of those activities being online or using some sort of alternate multimedia mobile device. But the average number of activities while viewing television changes from each demographic, with Millennials averaging four activities compared to three for Generation Xers, two for Baby Boomers, and one for the over-66 crowd.

The trend, then, is that younger consumers are increasingly likely to consume content on platforms besides television, and to use more other multimedia mobile devices while watching television. Deloitte says it boils down to people wanting the easiest access to content wherever they happen to be. And the behaviors of different generations are clearly a factor in how they consume content — younger viewers are more likely to use more different devices while watching, so perhaps that’s why they are more likely to consume content at a higher rate on other devices.

HBO, Showtime, and Sony seeking ways around the FCC rulings highlights the fact that availability of bandwidth and its cost could create changes to the patterns, if for example Netflix could see its position either strengthened or weakened by the FCC decisions and by the ways its competitors respond, and then again by how the FCC might in turn respond to attempts to circumvent open Internet rules. All of these businesses — new and old alike — are seeking ways to respond to the changes in the environment and changes in consumer patterns of spending and consumption. As they react and adapt, those best positioned will survive, and being well-positioned naturally means seeing the changes coming and preparing for them, then taking the right action when the disruptions occur in order to not only survive the change but to actually benefit from it and come out in an even better position.